The Toronto payments technology company Mint Technology Corp. said Monday that it would not proceed with plans for a private placement of stock due to poor market conditions and warned that the company could fail if it cannot raise additional funds by the end of January.
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The company said that it is considering other financing options "to continue as a going concern" but also said in a press release that "no assurance can be given that Mint will be able to raise additional capital."
Mint offers prepaid cards and payroll cards in Canada, along with loyalty programs, co-branded products, and contactless cards.
